Can I stay in my own holiday let?
One of the advantages of owning a furnished holiday let is that you and your family and friends are able use it for your own holidays.
BUT YOU CANNOT LIVE IN IT AS YOUR MAIN HOME.
It is an investment property that cannot be permanently occupied.
It is mainly the mortgage lender that applies this restriction but there may also be covenants restricting how your holiday cottage can be used.
However, you may at some point in the future decide that you want to live in your holiday home permanently. This should be possible with either the lender’s consent or by changing the mortgage/paying it off.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.